The proposed Chris Paul trade to the Los Angeles Lakers has created a firestorm.

The Hornets, who are owned by the league which acquired it from George Shinn a year ago, realized it was unlikely they would be able to retain Paul with a contract extension or in free agency after he opted out of his contract after this season.

So New Orleans general manager Dell Demps, a respected player personnel man who came from the respected San Antonio Spurs, went to work, hoping to get something for Paul instead of nothing if he left in free agency. Or in Stern’s words, “Getting something more for that player in the event he will leave than if he stays.”

Demps, in his second year as GM of the Hornets, arranged a huge three-team trade with the Lakers and the Houston Rockets: Paul to the Lakers; Los Angeles forward Lamar Odom to the Hornets and Los Angeles forward Pau Gasol to the Rockets, who would have sent forward Luis Scola, guards Kevin Martin and Goran Dragic and a first-round draft pick to New Orleans.

Stern got serious pressure from a number of owners, including Cavs owner Dan Gilbert, who fired off a letter to Stern and other owners calling the trade a travesty.

This trade should go to a vote of the 29 owners of the Hornets.

Over the next three seasons this deal would save the Lakers approximately $20 million in salaries and approximately $21 million in luxury taxes. That $21 million goes to non-taxpaying teams and to fund revenue sharing.

I cannot remember ever seeing a trade where a team got by far the best player in the trade and saved over $40 million in the process. And it doesn’t appear that they would give up any draft picks, which might allow to later make a trade for Dwight Howard.

The teams are still talking in an attempt to salvage the deal and they have appealed Stern’s decision.

Meanwhile, Stern and the NBA are being savaged by commentators everywhere. Here’s Bill Simmons and Micheal Wilbon.